Foxconn announces plan to put North American headquarters in downtown Milwaukee

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MILWAUKEE (CBS 58) – Foxconn has announced its plans to put the North American headquarters in downtown Milwaukee.

There’s no move-in date yet but they’re already thinking about how to use the space. The space is actually an entire city block, including the building and a connected surface level parking lot.

The announcement happened at the Northwest Mutual Tower. Northwestern Mutual owned the building.

Foxconn officials declined to say how much they paid for the 133,000 square foot property. Governor Scott Walker, who attended Tuesday’s announcement, says it was a private sale and the state wasn’t involved financially.

"There's no new incentives here. From day one when we announced - they were looking. Even when we were down on the ground level at the art museum, they were looking at the possibility of putting a headquarters here. And we certainly tried to connect them with the correct city and regional folks,” said Gov. Scott Walker (R).

"Community leaders have been extremely supportive. That really gives us the great confidence to actually look beyond the site. But in support of what we're doing in Mt. Pleasant,” said U.S. Director of Strategic Initiatives at Foxconn, Alan Young.

While the sale price of the building wasn’t shared, the property was previously assessed at just over $11 million. Company officials say they have no move-in date planned yet.

“I want to thank Northwestern Mutual and Foxconn for their shared investments in downtown Milwaukee. Adding an international business presence to our central business district is yet another example of the strength of the Milwaukee Renaissance.” – Mayor Barrett